Ethereum’s price action over the past few days has been clearly weaker than the broader market, and even its rebounds have failed to produce any meaningful bullish volume. Since the bulls have repeatedly failed to regain momentum and overhead resistance is clearly limiting price, positioning for a short in line with the market structure is the most rational choice. The short position has now been opened.
That said, while we are short for now, a major trend reversal opportunity may be just around the corner. Once the key support zone below is put to the ultimate test and selling pressure begins to fade, that is often the starting point of the next swing move. For now, hold the short position and protect its profits, while patiently waiting for the market to show a clearer right-side signal that the decline has bottomed.
$ETH $BTC #以太坊 #ETH #MarketAnalysis
That said, while we are short for now, a major trend reversal opportunity may be just around the corner. Once the key support zone below is put to the ultimate test and selling pressure begins to fade, that is often the starting point of the next swing move. For now, hold the short position and protect its profits, while patiently waiting for the market to show a clearer right-side signal that the decline has bottomed.
$ETH $BTC #以太坊 #ETH #MarketAnalysis